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Thread: Sustainability

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  1. #1
    Join Date
    Jul 2014
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    Sustainability

    The club's recently released accounts show a trading loss of £100k for last season which is actually an improvement over the previous year which were hidden through the write off of historic deferred grants. This is clearly unsustainable over the long-term and will require another more lucrative source of income with crowds ever diminishing for full-time football to continue. I am becoming more and more concerned for the future of our great wee club and hopefully the board have some initiative up their sleeves to arrest this financial downturn. Then again if the Dumfries public would only come out and support their ain team we wouldn't have to face this unsure future. If only!!!!

  2. #2
    Join Date
    Jul 2009
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    2,895
    A worrying loss of £102,000 but not surprising Spike. We should thank our lucky stars we’ve the extra revenue from the Queens Arena or we’d really be in the s@&t

    The AGM is set for Monday 26th Feb down at the Nith Hotel. It’ll be interesting to hear what plans the Chairman has for the future

  3. #3
    Join Date
    Mar 2002
    Posts
    550
    Before everyone jumps on the crowd issue (which admittedly is a problem) the loss made this year is primarily the drop of £250k worth of commercial income which definitely needs explained at the agm and best guess is linked to the concert debacle. A worrying trend is the drop in income from the arena and pitch hire as well. I still struggle to understand what the wage bill/budget truly is as our cost of sales is really high which for me doesn’t marry up with the image that we’re a plucky team trying to compete with the big boys. The cash at bank was actually ok due to good debtor/creditor controls but as for 2017 i’d project a further tangible loss i’m Guessing the funds are gone hence our current skint position. Interesting in notes that our chairman carries out maintenance for free, if so can we get some done then on the various bits of ground that are becoming a real concern.

    In the same way last years profit masked an awful trading year, do bear in mind accounts are reported in a way that doesn’t show always a true position, the loss is actually not as heavy as it seems as includes heavy depreciation of assets, true position or ebitda is somewhere less than half of the bottom figure.

  4. #4
    Join Date
    Jul 2009
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    2,895

    Angry

    Quote Originally Posted by Scottyboy10 View Post
    Before everyone jumps on the crowd issue (which admittedly is a problem) the loss made this year is primarily the drop of £250k worth of commercial income which definitely needs explained at the agm and best guess is linked to the concert debacle. A worrying trend is the drop in income from the arena and pitch hire as well. I still struggle to understand what the wage bill/budget truly is as our cost of sales is really high which for me doesn’t marry up with the image that we’re a plucky team trying to compete with the big boys. The cash at bank was actually ok due to good debtor/creditor controls but as for 2017 i’d project a further tangible loss i’m Guessing the funds are gone hence our current skint position. Interesting in notes that our chairman carries out maintenance for free, if so can we get some done then on the various bits of ground that are becoming a real concern.

    In the same way last years profit masked an awful trading year, do bear in mind accounts are reported in a way that doesn’t show always a true position, the loss is actually not as heavy as it seems as includes heavy depreciation of assets, true position or ebitda is somewhere less than half of the bottom figure.

    So Mr Chairman’s companies carry out maintenance for free around Palmerston !!! Probably the least he can do considering the amount of money he made off the selling of the land next to the Arena , the refurbishment of the Arena and those new changing rooms that nobody has ever seen.
    Only one winner there

  5. #5
    Join Date
    Mar 2002
    Posts
    550
    Considering the state of the ground and surrounding area i could put in the accounts that I provide maintenance free of charge too, as we don’t seem to do much. Would love to see someone really challenge the board this year what is the plans, how long before more land dissapears for housing!

  6. #6
    Join Date
    Jul 2009
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    I’m almost certain that every penny Mr Hewitson made from sale of that piece of land was to be put back into Queens

    Bought for £124,000 and sold for £360,000 allegedly . Has it ??!

  7. #7
    Quote Originally Posted by aloreburn View Post
    I’m almost certain that every penny Mr Hewitson made from sale of that piece of land was to be put back into Queens

    Bought for £124,000 and sold for £360,000 allegedly . Has it ??!

    i said it from day 1 when hewitson took charge ,he would gradually sell off our assets for his own gain ,the happy clappers couldnt see it as usual ,this man needs to be put on the spot and asked some serious questions face to face with the fans ,no wonder thay didnt want a fan on the board ,all the hidden agendas would have become public knowledge ,surely the blounts wouldnt let these things happen tho surely as there suppose to be queens men .

  8. #8
    Join Date
    Jan 2008
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    1,977
    Quote Originally Posted by Francis_begbie_HFC View Post
    i said it from day 1 when hewitson took charge ,he would gradually sell off our assets for his own gain ,the happy clappers couldnt see it as usual ,this man needs to be put on the spot and asked some serious questions face to face with the fans ,no wonder thay didnt want a fan on the board ,all the hidden agendas would have become public knowledge ,surely the blounts wouldnt let these things happen tho surely as there suppose to be queens men .

    Either turn up at the AGM and ask him or get a good solicitor

  9. #9
    Quote Originally Posted by johnny_dumfries View Post
    Either turn up at the AGM and ask him or get a good solicitor
    hmmmm im baffled here im replying to quotes that people are already suggesting ,and iv responded to what i think it looks like everyone else is already thinking ,and why the fffk would i be needing a solicitor ,people on previous posts have brought all this up anyways im just adding to what the thoughts are ,i surely will be asking them if i see them ,asking what the hell is going on with the sales of these asset lands ,defo for sure .

  10. #10
    Join Date
    Jul 2014
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    1,945
    Quote Originally Posted by Francis_begbie_HFC View Post
    i said it from day 1 when hewitson took charge ,he would gradually sell off our assets for his own gain ,the happy clappers couldnt see it as usual ,this man needs to be put on the spot and asked some serious questions face to face with the fans ,no wonder thay didnt want a fan on the board ,all the hidden agendas would have become public knowledge ,surely the blounts wouldnt let these things happen tho surely as there suppose to be queens men .
    Very damning accusations Francis of the Chairman of Queens which I do hope you can substantiate however as has already been said you can attend the AGM and put them to the BoD directly and see what their collective response will be.

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